The booming demand for wireless services continues to be big news and it should be. A recent report estimates 2014 total wireless subscriber connections to have topped 355 million, along with nearly 2 trillion text messages and more than 4 trillion megabits of wireless data traffic. The brisk rise in smartphone users, increase in video streaming and surge in data applications for video, navigation, shopping, banking and communications leaves no doubt about the consumer’s obsession with spectrum-based services.

Sounds good, right? Normally, demand is not a business problem; it is an opportunity. However, in this case, demand is not the concern; it is the lack of supply. In fact, it may already be too late to avert what will become a spectrum shortage. That shortage will adversely affect consumer services and prices, and that should be a concern to policymakers, barring some immediate action.

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